CMS advises Swiss Prime Anlagestiftung on the acquisition of two university campuses from Colony NorthStar

Zurich – Swiss Prime Anlagestiftung has acquired from Colony NorthStar all shares in CFI Mountain (Switzerland) LLC und CFI Lake (Switzerland) LLC.

CFI Mountain (Switzerland) LLC and CFI Lake (Switzerland) LLC are the owners of real estate portfolios in Glion (Montreux) and Bluche (Crans-Montana) comprising 20 student accommodations and education properties (Glion Institute of Higher Education in Montreux, and Les Roches International School of Hotel Management in Crans-Montana).

Prior to this transaction, the two companies had concluded long-term triple-net lease agreements, including several renewal options, with Sommet Education, an internationally recognized operator of hospitality management institutions, for the operation of the aforementioned education and accommodation properties.

The transaction has been structured as a share deal, including short-term debt financing, and has been closed on 5 July 2017. The purchase price exceeded the amount of CHF 250 million.

A team of CMS Zurich headed by partners Dr. Stefan Gerster and Dr. Stephan Werlen advised Swiss Prime Anlagestiftung on all legal aspects of this transaction, including the conduct of a legal due diligence, the negotiation of the share purchase agreement as well as the acquisition financing.

CMS Schweiz

Dr. Stefan Gerster, Partner (Lead), Real Estate

Dr. Stephan Werlen, Partner, Corporate/M&A and Acquisition Finance

Dominique Gemperli, Counsel, Acquisition Finance

Seraina Kihm, Associate, Real Estate

Katja Bertsche, Associate, Real Estate

Ivan Bicvic, Trainee, Real Estate

Pascal Stocker, Associate, Corporate

Alexandra Stocker, Trainee, Corporate